The Ocado (LSE: OCDO) share price can test the nerve of the toughest investors. The FTSE 250 online supermarket and technology group is down 22% over one year and 90% over five as it continues pouring vast sums into its robotic warehouse technology without securing the customer deals to justify that investment.

When good news lands, Ocado shares can surge. When bad news hits, as it all too often does, the punishment is brutal.

The most recent blow came from US partner Kroger scaling back automated warehouse deployments. That sends an uncomfortable signal to other potential customers. CEO Tim Steiner remains a firm believer in Ocado’s state-of-the-art technology. Investors need more convincing. Will they be…